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Ace Hardware 2801 McKinney St 15,468 SF Retail Building Melissa, TX 75454 $7,676,735 CAD ($496.30 CAD/SF) 6.75% Cap Rate
Executive Summary
New 10-Year Lease in Place | Lease Runs Through October 2035 | Features 10% Rent Increases Every Five Years | Includes Two (2) Five-Year Renewal Options
2025 Class “A” Retail Construction | Newly Developed Asset Featuring High-Quality Construction
Strategic Frontage Along State Highway 5 | Located Directly Off McKinney Street in Melissa | Traffic Counts Exceed 40,000 Vehicles Per Day
Rapidly Expanding Melissa Trade Area | Population Has Grown Approximately 14% Annually Since 2020 | Continued Strong Growth Projected Through 2029
NN Lease Structure | Limited Landlord Responsibilities
Below Replacement Cost Opportunity | Offered at Approximately $356 PSF | Attractive Basis Relative to New Class “A” Retail Construction Costs
Affluent Surrounding Demographics | Average Household Income Within a 3-Mile Radius Exceeds $140,000 | Approximately 1.7x the National Average
Located Within Established Retail Corridor | Nearby Retailers Include H-E-B, Kroger, Buc-ee’s, Walmart, Chick-fil-A, Texas Roadhouse, and Numerous Additional National Tenants
Strong In-Place Income Stream | Approximately $371K NOI Supporting a 6.75% Cap Rate with Contractual Rental Increases Throughout the Lease Term
2025 Class “A” Retail Construction | Newly Developed Asset Featuring High-Quality Construction
Strategic Frontage Along State Highway 5 | Located Directly Off McKinney Street in Melissa | Traffic Counts Exceed 40,000 Vehicles Per Day
Rapidly Expanding Melissa Trade Area | Population Has Grown Approximately 14% Annually Since 2020 | Continued Strong Growth Projected Through 2029
NN Lease Structure | Limited Landlord Responsibilities
Below Replacement Cost Opportunity | Offered at Approximately $356 PSF | Attractive Basis Relative to New Class “A” Retail Construction Costs
Affluent Surrounding Demographics | Average Household Income Within a 3-Mile Radius Exceeds $140,000 | Approximately 1.7x the National Average
Located Within Established Retail Corridor | Nearby Retailers Include H-E-B, Kroger, Buc-ee’s, Walmart, Chick-fil-A, Texas Roadhouse, and Numerous Additional National Tenants
Strong In-Place Income Stream | Approximately $371K NOI Supporting a 6.75% Cap Rate with Contractual Rental Increases Throughout the Lease Term
Property Facts
Sale Type
Investment
Property Type
Retail
Building Size
15,468 SF
Building Class
B
Year Built
2025
Price
$7,676,735 CAD
Price Per SF
$496.30 CAD
Cap Rate
6.75%
NOI
$518,154 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.24
Lot Size
1.51 AC
Zoning
EX - Commercial
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease End
- Ace Hardware
- Retailer
- -
- -
- Oct 2035
| Tenant | Industry | SF Occupied | Rent/SF | Lease End | ||
| Ace Hardware | Retailer | - | - | Oct 2035 |
Somewhat walkable
30/100
Exceptionally drivable
100/100
Somewhat bikeable
30/100
Nearby Major Retailers
1 of 4
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Ace Hardware | 2801 McKinney St
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